The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-05-28
REVIEW OF THE WEEK.
Extensive Speculation in Wheat and Real Es
tate-GeneralIy Favorable Showing.

Extensive Speculation in w heat and Real Es-
tate-GeneralIy Favorable Showing.
NEW YORK, May 2z-R. G. Dun & Co.'S
weekly trade review says The most important
news of the week is also the best-that crop
prospects have decidedly improved In view of
the great speculations in wheat and cotton. and
the false reports carefully circulated by inter
ested parties, it is of service to know that our
own agents telegraph from Wisconsin. Local
rains have helped the agricultural DISTRICTS"
from Minnesota, "rains TT roughout the North
west very materially Improve crop prospects,"
from Kansas City, prospects excellent for ex-
ceptonally large crops recent copious rains OF
great benefit" and from New Orleans,
sicrop prospects generally good" and
these are samples of favorable dis
patches from nearly all quarters. The fear
of injury thus far seems satisfactorily
removed, and if harm to wheat or cotton is to
come. it must be from climatic Influences in the
future. This good ews for the whole country is
disheartening however, when financial prospects
have come to depend upon the success of gigan-
tic specolations for advance in prices OF
products The financial future is also affected
by the large receipts of the Treasury. amount
ing for ten months and twenty days, to S3l, 6l2,-
SGT more than receipts for the same part of the
previous year. At the same rate the Treasury
must take from the markets very large sum every
month, after the last call for per cents. natures
July L, and Washington dispatches state that
the administration will purchase bonds with
great reluctance, il at all. The last statement
of New York banks showed an increase of loans
and reserves because Mr.. Mannine's new bank
was for the frat time included, but the drain of
money to Chicago. to meet the needs of spec la-
ton, still continues, the returns to that point
from the interior being retarded by real estate
and other activity extensively prevailing.
Foreign commerce does not improve. April
i'm ports exceeded exports by $15 973. 975. an ex-
equaled in one month of 1882, after the
- r~.I. 49,
since 1872. New York exports to May fall III
per cent. below those OF last year. with Imports
exceeding those of last year by l7.3 per cent,
which would foreshadow an excess of about Sl4.-
0O0. 900 in imports this month. The prevailing
speculations. rather than the interstate act.
cause the decline in exports for shipments of
grain by lake and rail are made without
gard TO local rail rates. In cotton the exports
are hardly quarter of those of May 1885, ard
artificial prices for pork products also cause
decrease in Shipments.
The Interstate Commission has not vet re-
voked its order OF suspension. but all informa-
ton tends to the belief that it will do so. and
points to rigid enforcement of the act. Much
complaint is made, even now, with the ratesfor-
distance srule not everywhere enforced, of the
transfer Of trade from large to smaller towns,
and from Eastern to interior cities. A great
number of suits commenced, and complaints
fled indicate that the cost of transportation
will be increased rather than diminished. Earn
ings still are large and encouraging, but a war
of rates in the Northwest results from milling
in transit" contracts issued by the St. Paul and
other roads, and the competition of Canadian
and water routes is felt more severely every
week
Accounts from nearly all quarters are decid-
edly favorable. At Philadelphia trade IS Ian
guild, and there is some complaint of slow col
lections; at New Orleans money is rather tighter,
and at Cincinnati collections are fair. with room
for improvements" but other reports indicate
active trade for the season, a good supply of
money for all legitimate business and collections
prompt
In the iron trade, Pittsburg hopes to see many
banked" furnaces set at work again by a re-
duc.ion in the price of coke and the termination
that the great strike of stove-molders will end
this week and work be resumed on Monday. A
better trade in tobacco is noted at Cincinnati,
and the real estate Excitement does not abate.
The great sale at West Nashville resulted salts
with heavy purchases by Eastern in
vestors. and prices are sustained with great con-
fdeDce at Omaha and other Western points by
more favorable crop prospects.
The coffee market, after week of advancing
prices, declined sharply yesterday morning.
Wheat gained little during the week and the |
collapse Of the clique is bv many apprehended.
Hog and pork products, with cattle, a shade |
lower. and sugar. cotton and oil little strong |
er No definite improvement appears in the |
market for wooden goods. and the great auction |
sale of nannels causes hesitation, bat the market |
for cotton is healthy and strong.
The business failures during the last seven |
lays number, for the United States 153: for /
Canada, D. a total of u.s. against $50 last week,
and Isl for the corresponding week of last year.